Unum Group (NYSE:UNM) Shares Sold by KLP Kapitalforvaltning AS

Key Points

• KLP Kapitalforvaltning AS has reduced its stake in Unum Group by 9.5%, selling 5,900 shares to hold 56,300 shares valued at approximately $4.59 million at the end of the first quarter.
• Unum Group recently declared a quarterly dividend of $0.46 per share, raising the annualized dividend to $1.84, with a yield of 2.28%.
• The company reported lower-than-expected earnings for the last quarter, with $2.04 EPS versus the projected $2.19 EPS, and a revenue decline of 3.4% year-over-year.

KLP Kapitalforvaltning AS decreased its holdings in Unum Group (NYSE:UNM - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,300 shares of the financial services provider's stock after selling 5,900 shares during the period. KLP Kapitalforvaltning AS's holdings in Unum Group were worth $4,586,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of UNM. Vanguard Group Inc. grew its stake in Unum Group by 8.4% during the 4th quarter. Vanguard Group Inc. now owns 20,497,586 shares of the financial services provider's stock worth $1,496,939,000 after purchasing an additional 1,596,078 shares in the last quarter. Norges Bank acquired a new position in shares of Unum Group during the fourth quarter worth about $1,003,918,000. Northern Trust Corp grew its position in shares of Unum Group by 33.2% during the fourth quarter. Northern Trust Corp now owns 1,930,349 shares of the financial services provider's stock worth $140,973,000 after buying an additional 480,926 shares in the last quarter. First Trust Advisors LP grew its position in shares of Unum Group by 15.4% during the fourth quarter. First Trust Advisors LP now owns 1,708,452 shares of the financial services provider's stock worth $124,768,000 after buying an additional 227,644 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Unum Group by 13.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,654,489 shares of the financial services provider's stock worth $134,775,000 after acquiring an additional 191,572 shares in the last quarter. Institutional investors and hedge funds own 86.57% of the company's stock.

Unum Group Stock Performance

Shares of UNM stock traded up $0.69 during trading hours on Tuesday, hitting $80.77. The stock had a trading volume of 246,362 shares, compared to its average volume of 1,370,865. The firm has a market capitalization of $14.08 billion, a PE ratio of 9.52, a PEG ratio of 1.27 and a beta of 0.41. Unum Group has a twelve month low of $51.80 and a twelve month high of $84.48. The stock's 50 day moving average is $80.27 and its 200 day moving average is $78.53. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.30 and a quick ratio of 0.30.

Unum Group (NYSE:UNM - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The financial services provider reported $2.04 earnings per share for the quarter, missing analysts' consensus estimates of $2.19 by ($0.15). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.34 billion. Unum Group had a return on equity of 14.17% and a net margin of 12.31%. The firm's revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. As a group, research analysts forecast that Unum Group will post 9.14 earnings per share for the current fiscal year.

Unum Group Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Friday, July 25th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 2.28%. This is a boost from Unum Group's previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Friday, July 25th. Unum Group's dividend payout ratio (DPR) is presently 21.67%.

Analysts Set New Price Targets

Several research firms have commented on UNM. UBS Group set a $89.00 price target on shares of Unum Group and gave the stock a "neutral" rating in a report on Friday, May 23rd. Wells Fargo & Company boosted their target price on shares of Unum Group from $97.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Barclays set a $96.00 price objective on Unum Group and gave the stock an "overweight" rating in a research report on Monday, July 7th. JPMorgan Chase & Co. upped their price objective on Unum Group from $87.00 to $96.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 8th. Finally, Keefe, Bruyette & Woods lowered their price target on Unum Group from $103.00 to $102.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Five analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $91.77.

Insiders Place Their Bets

In related news, EVP Elizabeth Claire Ahmed sold 10,000 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $80.00, for a total transaction of $800,000.00. Following the completion of the sale, the executive vice president directly owned 51,170 shares of the company's stock, valued at $4,093,600. This trade represents a 16.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.93% of the company's stock.

Unum Group Company Profile

Unum Group, together with its subsidiaries, provides financial protection benefit solutions primarily in the United States, the United Kingdom, Poland, and internationally. It operates through Unum US, Unum International, Colonial Life, and Closed Block segment. The company offers group long-term and short-term disability, group life, and accidental death and dismemberment products; supplemental and voluntary products, such as individual disability, voluntary benefits, and dental and vision products; and accident, sickness, disability, life, and cancer and critical illness products.